Gold Will Explode In Value Well Beyond What Jim Rickards Forecasts

Sunday, August 21, 2016
By Paul Martin

By: Steve St. Angelo, SRSrocco Report
GoldSeek.com
Sunday, 21 August 2016

While Jim Rickards explains many reasons why it is important to own gold, he leaves out the most important factor. Jim has become one of the more prominent names in the precious metals community due to his strong opinion on owning gold even though he worked on Wall Street (the anti-gold financial establishment) for 35 years.

Jim Rickards has written several best-selling books such as, Currency Wars, The Death Of Money and more recently, The New Case For Gold. Rickards is a big believer in owning gold to protect against the collapse of the highly leveraged derivatives based financial industry.

Rickards has gone on record in stating that his technical target for the price of gold posted in the article, Gold “Chart of the Decade” – Math Suggests $10,000 Per Ounce Says Rickards:

“I have a technical level for gold, it is $10,000 U.S. per ounce. That amount gets bigger over time because it’s a ratio of physical gold to printed money. The amount of physical gold doesn’t go up very much, but printed money goes up a lot, so the dollar target goes up more over time because of all the money printing.

$10,000 U.S. per ounce is the implied non-deflationary price for gold. If you have to go back to a gold standard, or anything like it to restore confidence, that is the number you must have to avoid deflation.

So $10,000 per ounce is mathematically derived and is not a guess.”

Rickards as well as legendary gold trader, Jim Sinclair both believe the value of gold will rise due to backing all the outstanding U.S. Dollars with physical gold. Thus, Rickards mathematical formula for arriving at that $10,000 per ounce figure is based upon the outstanding fiat currency in the system. Rickards believes for the U.S. Dollar to continue to function as a currency after the coming financial collapse, it will have to be backed by gold.

The Rest…HERE

Leave a Reply